Lockheed Martin has entered into a definitive agreement to acquire Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, for $9.0 billion. The price is effectively reduced to approximately $7.1 billion, after taking into account tax benefits resulting from the transaction.

“Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies,” said Marillyn Hewson, Lockheed Martin chairman, president and CEO. “I’m confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment. Together, we’ll offer a strong portfolio of helicopter solutions to our global customers and accelerate the pace of innovation and new technology development.”

Bell Helicopter Textron Inc., Hurst, Texas, was awarded a $55,600,000 contract (Iraq) for technical advice and maintenance and logistics support for maintenance and logistics for Bell aircraft.

Work will be performed in Iraq with an estimated completion date of Aug. 7, 2016. One bid was solicited with one received. Fiscal 2015 other procurement funds in the amount of $29,950,000 were obligated at the time of the award. Army Contracting Command, Redstone Arsenal, Alabama, is the contracting activity.